Assicurazioni Generali

Generali has signaled its willingness to consider a takeover offer from Monte dei Paschi di Siena (MPS) worth $10.2 billion for Banca Generali. Generali holds 50.1% of Banca Generali and must approve any transaction; the offer was unsolicited and will be examined for its implications. MPS had submitted a joint proposal for Banca Generali and Banco BPM; shares of MPS and Banca Generali rose slightly in early trading. » More on de.investing.com

JPMorgan raised its price target for Assicurazioni Generali from €44 to €46 but cut its recommendation from "Overweight" to "Neutral" following the strong share price increase. Analyst Farooq Hanif said the downgrade reflects that management’s positive work is now largely priced in and that opportunities and risks now appear balanced. » More on finanzen.net

Generali increased operating profit in the second quarter by almost 15% to €2.3 billion, beating analysts' expectations. Group CEO Philippe Donnet said the company is on track to meet its medium-term targets and announced a share buyback of up to €500 million. Premium income rose 6% in the half-year to €53.4 billion, the operating result grew 11%, and net profit climbed 18% to €2.5 billion. Group CFO Cristiano Borean put the damage from recent wildfires in July at around €300 million in total, of which less than €100 million affected Generali. » More on finanzen.net